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Bitcoin Seizure: New South Wales Police Confiscate $4.2 Million in Cryptocurrency

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New South Wales Police have confiscated 52.3 Bitcoin, valued at approximately $4.2 million, during search warrants executed in Ingleburn on May 4. According to NS3.AI, a 39-year-old man faces charges for failing to comply with a digital evidence access order and other alleged offenses. Additionally, a 41-year-old man has been charged in connection with the alleged transfer of the cryptocurrency. Detective Superintendent Matt Craft described the operation as one of the largest cryptocurrency seizures in the nation's history.

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